Home  »  Company  »  Thakral Services (In  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of Thakral Services (India) Ltd.

Mar 31, 2015

1. Company Overview:

Thakral Services (India) Limited ('the Company') was incorporated on 25th January, 1983 as private limited company with its registered office at Bangalore, originally with the name Parvidhgaar Leasing Pvt. Ltd. On 18th November, 1985, it was converted in to a Limited Company and was renamed as Parvidhgaar Leasing & Finance Limited. To broaden the business activities, its name was further changed to Primeast Investments Limited on 16th November, 1994. Presently the Company is engaged in the business of CCTV Sales and related service activities and during the year 2011-12 the company has commenced its business in the field of Photo Voltaic Modules.

2.Share Capital

a) Terms/ rights attached to equity shares

The Company has issued the Equity shares of par value of Rs.3/-. Every equity share holder shall have voting rights in proportion of his share of the paid up equity capital of the Company. In the event of liquidation of the Company, the assets of the Company will be first distributed to preferential amounts and balance so left will be distributed to equity shareholders in proportion to holding of their equity shares.

3. Micro, Small and Medium Enterprises Development Act, 2006(MSMED Act)

Based on the information available with the company, there are no Micro, Small and Medium enterprises, to which the company owes, which are outstanding for more than 45 days as at 31st March, 2015. Further, no interest during the year has been paid or payable under the terms of the MSMED Act, 2006.

4. Related Party Disclosure a) List of Related Party and Relationship:

Related Party Relationship

A. Enterprises where directors have Associates significant influence:

M/s. Westminster Developments Pvt. Ltd.

M/s. Normandy Developments Pvt. Ltd.

M/s. Minnow Trading Company Pvt. Ltd.

M/s. Glade Trading Company Pvt. Ltd.

M/s. Thakral Computers Pvt. Ltd.

M/s. Thakral one Solutions Pvt. Ltd.

M/s. Future World (India) Pvt. Ltd.

M/s Netizen Properties Pvt. Ltd.

M/s. Future World Retail Pvt. Ltd.,

B. Key Management Personnel

Mr. R.C. Bhavuk Managing Director

C. Relative of Key Management Personnel:

Mrs Beena Sharma Wife of Mr. R.C. Bhavuk

5. The company had given Stock under Cancellable operating lease. The rental income under such operating lease during the year is Rs.90, 26,977.

6.

a. During the year, the company has not entered into any formal hedging policy to hedge its exposure in foreign currency and interest rate (if any). Hence, the outstanding derivative instruments as on March 31, 2015 is NIL (March 31, 2014 - NIL)

7. Contingent Liabilities

Particulars 2014-15 2013-14

1. Corporate guarantee given to related party for getting Additional credit 1,00,00,000 1,00,00,000 facility from their vendor.

Total 1,00,00,000 1,00,00,000

8. The Company is engaged in CCTV and Solar Photo voltaic modules Sales and related service activities, the turnover from Solar Photo Voltaic modes is not meeting the requirement criteria for reporting as a separate segment as per the guidelines provided in Accounting standard 17- Segment reporting, notified under Section 133 of the Companies Act, 2013. Hence the reporting requirement under AS 17 does not arise.

9. Previous year's figures are regrouped and rearranged wherever necessary for comparison purposes.


Mar 31, 2014

1. Company Overview:

Thakral Services (India) Limited (''the Company'') was incorporated on 25th January, 1983 as private limited company with its registered office at Bangalore, originally with the name Parvidhgaar Leasing Pvt. Ltd. On 18th November, 1985, it was converted in to a Limited Company and was renamed as Parvidhgaar Leasing & Finance Limited. To broaden the business activities, its name was further changed to Primeast Investments Limited on 16th November, 1994. Presently the Company is engaged in the business of CCTV Sales and related service activities and during the year 2011-12 the company has commenced its business in the field of Photo Voltaic Modules.

2. Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act)

Based on the information available with the company, there are no Micro, Small and Medium enterprises, to which the company owes, which are outstanding for more than 45 days as at 31st March, 2014. Further, no interest during the year has been paid or payable under the terms of the MSMED Act, 2006.

3. Contingent Liabilities

Particulars As at March 31, 2014 As at March 31, 2014

1. Corporate guarantee given to related party for getting Additional credit facility from their vendor 1,00,00,000 NIL

Total 1,00,00,000 NIL

4. Segment Reporting:

The Company is engaged in CCTV and Solar Photo voltaic modules Sales and related service activities, the turnover from Solar Photo Voltaic modes is not meeting the requirement criteria for reporting as a separate segment as per the guidelines provided in Accounting standard 17- Segment reporting, notified under Section 211 (3C) of the Companies Act, 1956. Hence the reporting requirement under AS 17 does not arise.

5. These financial statements have been prepared in the format prescribed by the Revised Schedule VI to the Companies Act, 1956. Previous period figures have been recast/restated to conform to the classification of the current year.


Mar 31, 2013

I. Company Overview:

Thakral Services (India) Limited (''the Company'') was incorporated on 25th January, 1983 as private limited company with its registered office at Bangalore, originally with the name Parvidhgaar Leasing Pvt. Ltd. On 18th November, 1985, it was converted in to a Limited Company and was renamed as Parvidhgaar Leasing & Finance Limited. To broaden the business activities, its name was further changed to Primeast Investments Limited on 16th November, 1994. Presently the Company is engaged in the business of CCTV Sales and related service activities and during the year 2011 -12 the company has commenced its business in the field of Photo Voltaic Modules.

1. The Board of Directors of the Company at the meeting held on August 27,2010 have approved the Reduction of Share Capital as per provision of section 100 to 104 of Companies Act, to reduce the share capital of the company from 11,73,50,800/- divided into 1,17,35,080 equity shares of Rs 10/- each to Rs 3,52,05,240/- divided into 1,17,35,080 equity shares of Rs. 3/- each, subject to approval of the Shareholders by way special resolution and confirmation of Hon''ble High Court of Karnataka. The Shareholders of the Company at the Annual General Meeting held on September 30,2010 have resolved by passing Special resolution in accordance with Section 189 to give effect to the resolution passed by Board of Directors. The Capital Reduction was filed with the Honorable High Court of Karnataka on February 4, 2011 and no shareholder or creditor has opposed for reduction of share capital. The Hon''ble High Court has confirmed the Capital reduction and passed the order on March 31, 2011. The certified true copy of Order was received by the Company on April 23, 2011. Subsequently, the Company has filed Form No.21with ROC on April 27, 2011 and ROC has registered the alteration of Shares on May 10,2011. Effect in this regard has been given in the books of accounts for the year ended 31st March, 2012.

2. Micro, Small and Medium Enterprises Development Act, 2006(MSM£D Act)

Based on the information available with the company, there are no Micro, Small and Medium enterprises, to which the company owes, which are outstanding for more than 45 days as at 31st March, 2013. Further, no interest during the year has been paid or payable under the terms of the MSMED Act, 2006.

3. The Company is engaged in CCTV Sales and related service activities, during the year the Company has commenced the business in photo voltaic modules, however the turnover from the new segment i.e. photo voltaic modules is not meeting the requirement criteria for reporting as a separate segment as per the guidelines provided in Accounting standard 17- Segment reporting, notified under Section 211 (3C) of the Companies Act, 1956. Hence the reporting requirement under AS 17 does not arise.

4. Previous year''s figures are regrouped and rearranged wherever necessary for comparison purposes.


Mar 31, 2012

1. Company Overview:

Thakral Services (India) Limited ('die Company') was incorporated on 25th January, 1983 as private limited company with its registered office at Bangalore, originally with the name Parvidhgaar Leasing Pvt. Ltd. On 18th November, 1985, it was converted in to a Limited Company and was renamed as Parvidhgaar Leasing & Finance Limited. To broaden the business activities, its name was further changed to Primeast Investments Limited on 16th November, 1994. Presently the Company is engaged in the business of CCTV Sales and related service activities and during the year 2011-12 the company has commenced its business in the field of Photo Voltaic Modules.

2.Share Capital

a) Terms/rights attached to equity shares

The Company has issued the Equity shares of par value of Rs. 3/-. Every equity share holder shall have voting rights in proportion of his share of the paid up equity capital of the Company. In the event of liquidation of the Company, the assets of the Company will be first distributed to preferential amounts and balance so left will be distributed to equity shareholders in proportion to holding of their equity shares.

3. Contingent Liabilities not provided for;

Bank Guarantee outstanding in respect of performance and financial obligations, Rs. 45,85,195/- (March 31,2011 - Rs. 51,54,620).

4. The Board of Directors of the Company at the meeting held on August 27, 2010 have approved the Reduction of Share Capital as per provision of section 100 to 104 of Companies Act, to reduce the share capital of the company from 11,73,50,800/- divided into 1,17,35,080 equity shares of Rs. 10/- each to Rs 3,52,05,240/- divided into 1,17,35,080 equity shares of Rs. 3/- each, subject to approval of the Shareholders by way special resolution and confirmation of Hon'ble High Court of Karnataka. The Shareholders of the Company at the Annual General Meeting held on September 30, 2010 have resolved by passing Special resolution in accordance with Section 189 to give effect to the resolution passed by Board of Directors. The Capital Reduction was filed with the Honorable High Court of Karnataka on February 4,201 land no shareholder or creditor has opposed for reduction of share capital. The Hon'ble High Court has confirmed the Capital reduction and passed the order on March 31, 2011. The certified true copy of Order was received by the Company on April 23, 2011. Subsequently, the Company has filed Form No. 21 with ROC on April 27, 2011 and ROC has registered the alteration of Shares on May 10, 2011. Effect in this regard has been given in the books of accounts for the year ended 31st March, 2012.

5. Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act)

Based on the information available with the company, there are no Micro, Small and Medium enterprises, to which the company owes dues, which are outstanding for more than 45 days as at 31st March, 2012. Further, no interest during the year has been paid or payable under the terms of the MSMED Act, 2006.

6. Related Party Disclosure

a) List of Related Party and Relationship

Related Party Relationship

A. Enterprises where directors have significant influence:

M/s. Westminster Developments Pvt. Ltd.

M/s. Normandy Developments Pvt. Ltd.

M/s. Minnow Trading Company Pvt. Ltd.

M/s. Glade Trading Company Pvt. Ltd.

M/s. Thakral Computers Pvt. Ltd.

M/s. Thakral one Solutions Pvt. Ltd.

M/s. Future World (India) Pvt. Ltd.

M/s Netizen Properties Pvt. Ltd.

B. Key Management Personnel

Mr. R.C. Bhavuk Managing Director

C. Relative of Key Management Personnel:

Mrs. Beena Sharma Wife of Mr. RC. Bhavuk

7. The Company is engaged in CCTV Sales and related service activities, during the year the Company has commenced the business in photo voltaic modules, however the turnover from the new segment i.e. photo voltaic modules is not meeting the requirement criteria for reporting as a separate segment as per die guidelines provided in Accounting standard 17- Segment reporting, notified under Section 211 (3C) of the Companies Act, 1956. Hence the reporting requirement under AS 17 does not arise.

8. Previous year's figures are regrouped and rearranged wherever necessary for comparison purposes.


Mar 31, 2011

1. Contingent Liabilities not provided for

Bank Guarantee outstanding in respect of customs and others Rs. 51,54,620/- (March 31, 2010 - Rs.4,85,097).

2. The Board of Directors of the Company at the meeting held on August 27, 2010 have approved the Reduction of Share Capital as per provision of section 100 to 104 of Companies Act, to reduce the share capital of the company from 11,73,50,800/- divided into 1,17,35,080 equity shares of Rs 10/- each to Rs 3,52,05,240/- divided into 1,17,35,080 equity shares of Rs. 3/- each, subject to approval of the Shareholders by way special resolution and confirmation of Hon'ble High Court of Karnataka. The Shareholders of the Company at the Annual General Meeting held on September 30, 2010 have resolved by passing Special resolution in accordance with Section 189 to give effect to the resolution passed by Board of Directors. The Capital Reduction was filed with the Honorable High Court of Karnataka on February 4, 2011 and no shareholder or creditor has opposed for reduction of share capital. The Hon'ble High Court has confirmed the Capital reduction and passed the order on March 31, 2011. The certified true copy of Order was received by the Company on April 23, 2011. Subsequently, the Company has filed Form No.21with ROC on April 27, 2011 and ROC has registered the alteration of Shares on May 10, 2011. Effect of this was not given in the books of accounts for the year ended 31 st March, 2011.

3. Secured Loans

Working Capital loan sanctioned by Commercial Bank are Secured by way of hypothecation of the stocks and book debts, Equitable Mortgage of commercial bearing property Khata no:48/24, PID No: 81 -6-48/24 situated in the eight floor, (Rear Block) of the building known as the 'THE ESTATE" No: 48, Dickenson Road, Bengaluru- 560042, standing in the name of M/s Thakral Computers Pvt Limited.

4. Micro, Small and Medium Enterprises Development Act, 2006(MSMED Act)

The details of amounts outstanding to Micro, Small and Medium Enterprises under the Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act), based on the available information with the Company are as under:

5. Related party Disclosure:

a) List of Related Party and Relationship:

Related Party Relationship

A Enterprises where directors have significant influence:

M/s. Westminster Developments Pvt. Ltd.

M/s. Normandy Developments Pvt. Ltd.

M/s. Minnow Trading Company Pvt. Ltd.

M/s. Glade Trading Company Pvt. Ltd.

M/s. Thakral Computers Pvt. Ltd.

M/s. Raffles Solutions Pvt. Ltd.

M/s. Future World (India) Pvt. Ltd.

M/s Netizen Properties Pvt Ltd

B. Key Management Personnel Managing Director

Mr. R.C. Bhavuk

C. Relative of Key Management Wife of Mr. R.C. Bhavuk Personnel Mrs. Beena Sharma

6. The Company is engaged in CCTV Sales and related service activities, which in the context of Accounting standard 17- Segment reporting, notified under Section 211 (3C) of the Companies Act, 1956 is considered as single business segment. Hence, reporting under the requirements of the said standard does not arise.

7. Figures for the previous year have been re-grouped necessary for comparison purposes.


Mar 31, 2010

1. Contingent Liabilities not provided for:

Bank Guarantee outstanding in respect of customs and others Rs. 485,097 (March 31, 2009 - Rs.2,68,911)

2. RELATED PARTY DISCLOSURES:

a) List of Related Party and Relationship:

RELATED PARTY RELATIONSHIP

A.Enterprises where directors have significant influence:

M/s. Westminster Developments Pvt.Ltd.

M/s. Normandy Developments Pvt. Ltd.

M/s. Minnow Trading Company Pvt. Ltd.

M/s. Glade Trading Company Pvt. Ltd.

M/s. Thakral Computers Pvt. Ltd.

M/s. Raffles Solutions Pvt. Ltd.

M/s. Future World (fhdia) Pvt. Ltd.

B.Key Management Personnel

Mr. R.C. Bhavuk Managing Director

C.Relative of Key Management Personnel: Wife of Mr. R.C. Bhavuk

Mrs.Beena Sharma

3. The Company is engaged in CCTV Sales and related service activities, which in the context of Accounting standard 17 segment reporting, notified under section 211 (3c) of the companies act 1956 is considered as single business segment. Hence reporting under the requirements of the said standard does notarise.

4. Deferred Tax Asset has not been recognized in the books of account in view of the virtual certainity vide Para 17 ofAS-22

5. Micro, Small and Medium Enterprises Development Act, 2006(MSMED Act)

Based on the information available with the Company, there are no Micro, Small and Medium Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days as at 31" March, 2010. Further, no interest during the year has been paid or payable under the terms of the MSMED Act, 2006.

6. Figures for the previous year have been re-grouped-wherever necessary for comparison purposes. Per our Report annexed

 
Subscribe now to get personal finance updates in your inbox!